The nation's new president has been compared to FDR. His economic views go by the catchy code word Obamanomics. The transition of power at the White House is always a big deal on Wall Street but never more so than this year with the stock market, banking system and economy in the throes of the worst crisis since the 1930s.

Stock markets plummeted Monday after news came the United States is officially in recession. Grim assessments from Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson, as well as a report showing a further drop in factory activity, also weighed on investors.

The oil rally, once in overdrive, has run out of gas, igniting a stock-buying binge. The July 3 peak in oil and subsequent drop of more than $20 a barrel has injected life into what had been a stock market in rapid decline, raising hopes that the worst of the bear market has passed.